World's most Promising Companies & Tech Ecosystems: Our most recent investment in Dealroom
We are excited to announce our recent Series-A investment in Dealroom. Dealroom is Europe’s market leading data provider on innovative companies and tech ecosystems. Investors, corporates and governments rely on Dealroom’s cloud based data platform to find their next big opportunity. The company is led by Yoram Wijngaarde (CEO), Tjerk van der Lande (COO) and Douglas Trafelet (CCO). Dealroom was founded in 2013 and employs 34 people across their head office in Amsterdam and the sales office in London.
Innovation happens in ecosystems. Silicon Valley is the most well-known example. An ecosystem consists of different stakeholders like startups, employees, governments, venture capitalists, private equity funds, and corporate innovation departments. Dealroom is playing a central role by providing insights and connecting all stakeholders in the startup ecosystem with its cloud based data platform and ecosystem solutions. Dealroom operates in the market of information on innovative companies which is the fastest-growing vertical in the $27 billion financial and company information market.
Dealroom offers the most extensive database with the highest coverage on European innovative companies against affordable prices. The company operates a SaaS model, as well as an API for integrating the information into other websites, databases or CRM systems. Moreover, Dealroom provides Ecosystem solutions, enabling (local) governments like the UK, France, Berlin, Amsterdam, Rome, the EU to launch personalized dedicated databases for their ecosystems.
The increasing demand for information sources on innovative companies leads to higher transparency in the industry and better decision-making. Dealroom is an absolute must-have for investment firms, corporate innovation departments and governments. Our investment thesis was, among others, driven by:
- Market Development: Innovation has become an important topic over the past years. First, corporates realize that they have to collaborate with the innovation ecosystem in order to stay relevant for their customer base and to capitalize on the opportunities that tech provides. Second, governments have realized that traditional jobs have been disappearing, while the tech sector is the biggest new job creator. For governments, it is crucial to partner with the innovation ecosystem and to gain insights into how their ‘ecosystem’ is performing. Third, venture capital is the enabler of innovation from a financial perspective. Due to the success of venture-backed companies like Facebook and Hubspot and the low interest rates, venture capital has become a viable, mature, and growing asset class. Worldwide, venture capital firms raised $36 billion in 2019 and they steadily participate in larger rounds. Additionally, the dynamics of the financial markets are not expected to change in the near future. As a result, the market situation for corporates, governments, and venture capital funds propels the demand for reliable information for which Dealroom is ideally positioned
- Market Potential: As Dealroom is the data link between stakeholders in the startup ecosystem, it can gradually expand its total addressable market by providing more relevant services for the ecosystem. Eventually, Dealroom can monetize several dimensions of the startup ecosystem'
- Team: Dealroom’s management team has a complementary profile of experience. Yoram (CEO) has a unique background in TMT investment banking. Tjerk (COO), from i.a., his experience at Uberall, knows the dynamics of setting up a company for scale and Douglas (CCO) is an industry veteran that came from Pitchbook with deep Go-To-Market expertise
- Product Leadership: Dealroom has demonstrated to have the most extended and accurate coverage of European startups. The European market is known to be more challenging for the roll-out of databases from global information providers due to its high linguistic heterogeneity. Additionally, due to the launch of its ecosystem solution, Dealroom avails of unique proprietary data. We believe that this provides Dealroom with a highly sustainable competitive advantage
- Distribution Advantage: Dealroom has gained market awareness by sharing market-leading research which is featured by all major news outlets (e.g., the Economist, the Financial Times ect). This has led to significant inbound traffic. To convert traffic, the company deploys a freemium distribution model to reach smaller clients yet remains attractive for enterprises too through custom price and offers. In our opinion, Dealroom has a competitive edge with its freemium distribution model compared to sales-led competitors. To date, this has led to strong metric performance
We would like to congratulate co-investor Shoe Investments on the investment and look forward to supporting Yoram, Tjerk, and Douglas in their journey ahead!
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